How to find out what’s new in your energy provider
The government has begun taking steps to streamline the energy sector, in the hope of reducing regulatory and compliance costs and creating incentives for private energy companies to build out their businesses.
The Department of Energy and the National Energy Board on Monday unveiled a new set of policies and guidelines for energy providers.
The rules include: Requiring the installation of an independent third-party auditor for all energy provider contracts.
Requiring energy providers to file quarterly reports to the National Environmental Policy Act (NEPA) and the Clean Air Act (CAA).
Requiring all energy providers submit quarterly reports detailing the amount of money spent by them on environmental compliance, the environmental impact of their projects, and how much of that money goes to environmental costs.
Ensuring that all energy bills are disclosed and updated monthly to ensure compliance with NEPA, the CAA, and the EPA’s Clean Air Plan.
Enforcing all applicable laws, including the Clean Water Act and the Toxic Substances Control Act.
The new rules will apply to all energy producers, energy consumers, and energy utilities that have more than 50 employees.
The guidelines require energy providers, as well as energy companies, to be audited by an independent auditor every two years.
“As an energy provider, you are required to provide a timely, accurate, and complete accounting of your environmental performance and environmental benefits,” the new guidance reads.
“These accounting standards and reporting requirements will ensure that all parties understand and meet their responsibilities to ensure that their activities are consistent with applicable laws and regulations.”
The new guidance will apply only to the energy companies that receive federal contracts.
The regulations also require the auditor to provide an annual audit report to the Energy Department detailing how it determines how much money it spends on environmental and compliance compliance costs, and what that money is spent on.
The auditor will also have the power to require the energy provider to provide annual reports to federal agencies detailing how they measure and report on environmental impacts.
The Energy Department said the auditor’s report will be based on a range of factors, including industry practices, and will include data on how much the company spent on environmental impact and compliance in the past, and whether or not that amount has been used to meet its environmental obligations in the future.
Energy companies that don’t meet these reporting requirements can be fined up to $100,000 per year for noncompliance.
Energy providers who don’t comply with the reporting requirements could face a penalty of up to 30% of their annual revenue.
The department also wants to see all energy contracts updated annually.
“Energy contracts must be updated annually to provide energy producers with information on their environmental performance, environmental benefits, and their compliance with environmental and other regulatory obligations, including NEPA and the CAAA,” the guidance says.
“In addition, the auditor must provide a yearly audit report with the information required by NEPA to assess the effectiveness of compliance with federal environmental laws and the NEPA-compliant activities of the energy providers.”
The energy company must also include an annual report on the environmental benefits of its activities in its quarterly report to Congress, the Energy and Commerce Committee, and other relevant congressional committees.
The energy provider also will have to disclose the total amount of federal environmental permits, including permits for construction, disposal, and recycling of hazardous waste.
“The auditor must be provided with a list of federal permits issued to the regulated entity, including those issued to each energy provider for its regulated activities,” the guidelines say.
“For energy companies with more than 10 employees, the energy auditor must also be provided a list by the regulated entities of all energy entities it has served and of all permits issued.”
Energy companies with fewer than 10 workers will be required to report only those permits they have granted to the regulatory entities.
The regulator can also require energy companies “to disclose in a timely manner” information on how they conduct compliance with the Clean Energy Act, which will include the amount spent on compliance with existing environmental regulations, and any projects, projects or actions that the regulated company plans to undertake, or has already completed.
The guidance also says energy companies must report the total cost of compliance, including costs for environmental remediation, as part of their quarterly reports.
The agency has also directed energy companies and their employees to file annual reports of their environmental and environmental compliance expenses, including their environmental costs, costs related to compliance, and costs related directly to the project or activity that are related to their activities, and also for their use of environmental technology.
In the energy management industry, “energy management and energy storage” are the two categories of energy management activities.
According to the guidance, energy management and storage can include energy storage and energy management solutions, including solar, wind, geothermal, hydroelectric, nuclear, biomass, hydropower, geodesic, geologic, and thermal energy storage.
“Ensuring the compliance of energy providers with these requirements will help energy companies meet their environmental obligations and reduce costs,”